The most talked about and market moving research calls around Wall Street are now in one place. Here are today’s research calls that investors need to know, as compiled by The Fly.
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Top 5 Upgrades:
- BNP Paribas Exane upgraded Arm (ARM) to Outperform from Neutral with a price target of $210, up from $110. Despite the recent rally, “significant upside” remains in the shares as Arm’s potential in ASIC is not being fully valued, the firm tells investors in a research note.
- Mizuho upgraded Palantir (PLTR) to Neutral from Underperform with a price target of $135, up from $116. The firm views the company’s recent execution and momentum as “stunning.”
- BofA upgraded Rockwell Automation (ROK) to Buy from Neutral with a price target of $410, up from $360. Rockwell is beginning to see the impact of its turnaround strategy, and while large projects are delayed amid trade deal uncertainty, BofA expects trade deals to be signed before the end of the year, accelerating organic growth in 2026 and 2027.
- Guggenheim upgraded Commvault (CVLT) to Buy from Neutral with a $210 price target. The firm sees sustainable secular tailwinds in data protection following its channel checks.
- RBC Capital upgraded ResMed (RMD) to Outperform from Sector Perform with a price target of $294, up from $255. The firm expects the company to report solid fiscal 2025 results with a positive outlook for fiscal 2026.
Top 5 Downgrades:
- BofA downgraded Universal Health (UHS) to Underperform from Neutral with a price target of $185, down from $215. The firm says the “One Big Beautiful Bill” has a board range of negative implications and creates downside risk to growth estimates for the sector. BofA also downgraded HCA Healthcare (HCA) to Neutral, and Ardent Health (ARDT) and Centene (CNC) to Underperform.
- KeyBanc downgraded Fluor (FLR) to Sector Weight from Overweight without a price target. KeyBanc believes Fluor’s stake in NuScale Power (SMR) is now fully priced into the shares
- BMO Capital downgraded Axalta Coating (AXTA) to Market Perform from Outperform with a price target of $33, down from $51. The firm sees smarter cars increasing as a headwind to volumes for the repair and refinish industry.
- Citi downgraded Valero (VLO) to Neutral from Buy with a price target of $150, up from $134. The firm sees a more balanced risk/reward for Valero shares at current levels heading into the Q2 report.
- Piper Sandler downgraded Veritex (VBTX) to Neutral from Overweight with a price target of $34, up from $30, following the announcement of the company’s merger with Huntington Bancshares (HBAN).
Top 5 Initiations:
- UBS initiated coverage of Axon (AXON) with a Neutral rating and $820 price target. The company has an “exceptional” growth story, but this is fully reflected in the shares at current levels, the firm tells investors in a research note.
- UBS initiated coverage of Motorola Solutions (MSI) with a Buy rating and $490 price target. The firm says the company’s growth slowdown has created an opportunity in the shares.
- Stifel resumed coverage of MSA Safety (MSA) with a Hold rating and $182 price target. The firm has a positive long-term view on the shares but sees headwinds from difficult compares, tariffs, and slowing short-cycle activity in the near term.
- Needham initiated coverage of Karooooo (KARO) with a Buy rating and $60 price target. The company’s strategy of providing a vertically integrated telematics solution is driving customer satisfaction and market share gains.
- Oppenheimer initiated coverage of MBX Biosciences (MBX) with an Outperform rating and $38 price target. The firm is positive on the potential of the company’s Precision Endocrine Peptide platform to redefine standards in endocrine and metabolic disease treatment.
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Read More on ARM:
- BNP Paribas Exane upgrades Arm to Outperform on ASIC potential
- Arm upgraded to Outperform from Neutral at BNP Paribas Exane
- Mixed options sentiment in Arm Holdings PLC with shares down 0.93%
- Arm initiated with a Neutral at Goldman Sachs
- AI Boom Sends Arm Holdings Stock (ARM) Soaring: Data Center Demand Grows 14-Fold